Please rate my essay - time taken 30 mins

[brkanth]

Analysis of Issue
The desire of corporations to maximize profits creates conflict with the general welfare of the nation at large.

Discuss the extent to which you agree or disagree with the opinion stated above. Support your views with reasons and/or examples from your own experience, observations or reading.

Time:30 mins

The topic is "The desire of corporations to maximize profits creates conflict with the general welfare of the nation at large." Many people believe that the desire of corporations to maximise profits keeps the general welfare of the nation at stake. However, I believe that the economy, financial stability of a nation depends on the profitability of the corporates in the country.

One reason why corporations' desire to maximize profits does not create conflict is benefits that the shareholders get.. When ever a company records profits, the first ones who get benefited is its stakeholders and employees. As a result, millions of shareholders and thousands of employees and their direct and indirect dependents also get benefited. As the income of the people of a country grows, the spending ability of each individual grows thus promoting other businesses too. Thus the profits of corporates contribute to the Gross Domestic Product of the nation thus improving the growth rate of the economy.

Secondly, the prevailing economic slowdown in the world is because of the losses that the corporations are booking. Many banks and financial institutions had booked losses and had to shut down in the past 15 months. This had a serious impact on other industries such as automobile and real estate. Millions had lo lose jobs because of the losses that the corporations incurred. thus, if the companies do not make profits, the economy of the nation will be seriously impacted leaving millions of people jobless.

Most importantly, the technology development that takes place when corporations are in profits. Technology needs would grow when comopanies realise that it has to work more on automation of processes or optimization of the production, thus necessitating the quest for new technologies. Therefore, more the profits of corporations, more is the technological developments in the country. Moreover, a good number of Corporations promote and sponsor social activities such as adopting schools, orphanages etc. which they can do only when they are in profits. So, profits of Corporations will aslo promote social development.

To summarize, I would say that the desire of corporations to maximize profits not only benefits its shareholders, but also promotes economical, technological and social developments of the society thus promoting the general welfare of the nation.